1524 Thurber Rd · South Corning, NY 14830

$87,000

2 bd · 1.0 ba · 1,110 sqft · SingleFamily public records · 17 Days on market

Built 1955 0.40 ac lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom ranch-style cottage on nearly half an acre in Caton. New septic in 2025. Eat-in kitchen, 2 car garage and a full basement offers suitable storage. Private backyard to create your perfect outdoor oasis. Move-in and enjoy as-is or enjoy a renovation opportunity. Delayed showings until 5/23/26.

Key facts

• New septic
• Private backyard
• Full basement

Tags

• NEARLY HALF AN ACRE
• NEW SEPTIC
• EAT-IN KITCHEN
• PRIVATE BACKYARD
• FULL BASEMENT
• RENOVATION OPPORTUNITY

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Electricity available and connected (fuse panel); Septic tank; Water from spring/well
• Home design: Single-story home; Resale property
• Construction: Brick and vinyl siding exterior; Block foundation; Existing structure
• Exterior features: Open porch; Gravel driveway; Rectangular lot (approximately 0.4 acres, 143 x 271); Main thoroughfare frontage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator; Eat-in kitchen
• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Den; Eat-in kitchen; Bedroom on main level; Full basement
• Laundry & utility: Washer included; Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $87k).
• Recommended offer: $86k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#228 in NY, #3,596 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: schools D, amenities F, commute F.
• Corning City School District (town): math 44% / reading 53% proficiency, ranked #406 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 106 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $601 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,695 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.72% ✓
• Cap rate: 11.68%
• Cash-on-cash: 19.26%
• DSCR: 1.86
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $190,920
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1653 Caton Rd	0.43mi	3/2.0 (+1)	1,152 (+4%)	13mo	$143,608	$125	54
10940 Wolcott Rd	0.48mi	2/2.0	1,224 (+10%)	22mo	$210,000	$172	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.45×
• Total profit: $10,940
• Equity at exit: $12,972

10-year hold

• IRR: 20.4%
• Equity multiple: 2.73×
• Total profit: $42,158
• Equity at exit: $7,522

Cash invested: $24,360 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14830

• Active inventory: 106
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$302 /mo · $3,619/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $391

Break-even live

Break-even rent $1,005

Max offer price $87,000

Occupancy floor 69%

Sensitivity live

Price	-10% $440	-5% $416	+0% $391	+5% $366	+10% $342
Rent	-10% $272	-5% $332	+0% $391	+5% $450	+10% $509
Rate	-1.0pp $435	-0.5pp $413	base $391	+0.5pp $368	+1.0pp $345

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $87,000 Active 17 DOM
2. 2026-06-18
   days on market $87,000 Active 16 DOM
3. 2026-06-17
   days on market $87,000 Active 15 DOM
4. 2026-06-16
   days on market $87,000 Active 14 DOM
5. 2026-06-15
   days on market $87,000 Active 13 DOM
6. 2026-06-14
   days on market $87,000 Active 11 DOM
7. 2026-06-12
   statusdays on market $87,000 Active 10 DOM
8. 2026-05-19
   listed $87,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $3,619 · $302/mo
• Projected year-2 tax: $3,619 · $302/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,999
• − Mortgage interest: −$4,873
• − Property taxes: −$3,619
• − Insurance: −$435
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$2,531
• Taxable income: $3,661
• Est. tax owed @ 24.0%: −$879
• After-tax cash flow: $3,812/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Corning City School District
• NCES district ID: 3608400
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 53% ▲ 4.00%
• Median HH income: $53,042
• Composite: 41.8/100
• National rank: #3392
• State rank: #406 of 590 in NY

Livability — South Corning

• Score: 76/100
• State rank: #228
• US rank: #3596

Category grades

Amenities F Commute F Cost of living A Crime A Employment D- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Steuben County · 41,193 people
• Metro: Corning, NY
• Population (ZIP): 19,015
• Household income: $73,263
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 565.0

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 93,062 people
• By 2030: 89,793 · -3.5%
• By 2040: 82,353 · -11.5%
• By 2050: 74,286 · -20.2%
• By 2075: 55,589 · -40.3%
• By 2100: 37,587 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+31.8) · D 34.1% · R 65.9%
• 2008→2024 swing: -15.0pp toward R · 2008: -16.8pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+29.6 2016: R+36.2 2012: R+16.4 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.59%
• Current HPI: 173.9857
• Rent YoY: —
• Metro: Corning, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2026-05-19 Listed $87,000 UNYREIS

Property tax history

+2.6%/yr

Latest (2025): $3,619 · +3.3% YoY. Source: county tax records.